Kinloch Capital LLC Takes Position in Essex Property Trust, Inc. $ESS

Key Points

• Kinloch Capital acquired 17,472 shares of Essex Property Trust valued at approximately $5.1 million, making ESS 1.9% of its portfolio and its 15th-largest holding. Institutional investors collectively own 96.51% of the stock.
• Essex Property Trust shares rose 1.6% to $293.62, near the company’s 52-week high of $303.35. The REIT exceeded quarterly earnings expectations, reporting $4.08 EPS versus the $1.46 consensus and revenue of $489.05 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $304.79, although one analyst downgraded the stock to “Sell.”

Kinloch Capital LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,472 shares of the real estate investment trust's stock, valued at approximately $5,095,000. Essex Property Trust comprises 1.9% of Kinloch Capital LLC's investment portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its position in Essex Property Trust by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 255,533 shares of the real estate investment trust's stock valued at $66,868,000 after purchasing an additional 6,422 shares during the period. Norges Bank purchased a new stake in Essex Property Trust in the fourth quarter valued at $230,690,000. Centersquare Investment Management LLC grew its position in Essex Property Trust by 6.0% during the 4th quarter. Centersquare Investment Management LLC now owns 548,017 shares of the real estate investment trust's stock worth $143,405,000 after purchasing an additional 31,261 shares during the period. BNP Paribas Financial Markets grew its position in Essex Property Trust by 29.3% during the 4th quarter. BNP Paribas Financial Markets now owns 160,122 shares of the real estate investment trust's stock worth $41,901,000 after purchasing an additional 36,293 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Essex Property Trust by 21.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,679,607 shares of the real estate investment trust's stock valued at $439,520,000 after buying an additional 301,349 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Stock Up 1.6%

ESS opened at $293.62 on Tuesday. The company has a fifty day moving average of $288.97 and a two-hundred day moving average of $270.12. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 10.57 and a beta of 0.69. Essex Property Trust, Inc. has a fifty-two week low of $238.46 and a fifty-two week high of $303.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The business had revenue of $489.05 million for the quarter, compared to analyst estimates of $485.12 million. During the same period in the prior year, the company posted $4.03 EPS. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. On average, research analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Analysts Set New Price Targets

ESS has been the subject of several analyst reports. Wall Street Zen cut Essex Property Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. UBS Group set a $290.00 target price on Essex Property Trust in a report on Thursday, June 18th. Morgan Stanley lifted their price target on Essex Property Trust from $293.00 to $302.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. Evercore reissued an "outperform" rating and issued a $303.00 price target on shares of Essex Property Trust in a report on Thursday, July 30th. Finally, Citigroup upgraded Essex Property Trust from a "buy" rating to an "outperform" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $304.79.

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the transaction, the director owned 2,394 shares in the company, valued at approximately $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.47% of the company's stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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